Which of the following best describes the short-run supply curve for an individual perfectly competitive firm?
A) It is the firm's marginal cost curve.
B) It is the upward-sloping part of the firm's marginal cost curve.
C) It is the vertical axis at prices less than minimum average variable cost and is the firm's marginal cost curve at prices above minimum average variable cost.
D) It is the vertical axis at prices less than minimum average total cost and is the firm's marginal cost curve at prices above minimum average total cost.
C
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Which one of the following statements is true?
A. A budget surplus will reduce national saving. B. A budget deficit decreases national saving. C. A budget deficit will decrease interest rates. D. A budget deficit increases national savings.
What is the best way to describe aggregate demand?
A) quantity required to satisfy equilibrium B) exports decrease; imports increase C) amount of a country's goods and services demanded by household and firms throughout the world D) individual's demand E) domestic demand of foreign imports.
Which of the following factors does not affect the long-run supply and demand conditions of foreign currencies?
A) Relative inflation rates B) Relative productivity levels C) Tastes for domestic versus foreign goods D) All of the above affect the long-run supply and demand conditions of foreign currencies.
Supply-side economics calls for:
a. lower taxes on businesses and individuals. b. regulatory reforms to increase productivity. c. government subsidies to promote technological advance. d. All of these.